Javelin Capital Markets LLC may accelerate the Dodd-Frank Act'smigration of U.S. swaps trading onto public markets by seekingpermission to list and make interest-rate swaps available on itsnew trading platform.
The New York-based swap-execution facility, or Sef, was thefirst venue to seek such a Commodity Futures Trading Commission(CFTC) decision. Agency approval would trigger a requirement thathundreds of trillions of dollars of the same type of swaps beconducted on exchanges and Sefs owned by Javelin and others, theCFTC said after receiving the application yesterday.
The CFTC said it will review and seek public comment onJavelin's plan, which covers most of the interest-rate swapsmarket. The review will take as long as 90 days, until Jan. 16, theagency said.
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